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IBM Buys Data Warehousing Company Netezza

IBM has agreed to buy Netezza, a Massachusetts-based data warehousing and analytics company, for $1.7 billion.SmartMoney has more:
The deal marks the latest in the data-warehousing sector, coming a month after the start of the public bidding war between Hewlett-Packard Co. (HPQ) and Dell Inc. (DELL) for data-storage company 3Par Inc. (PAR). Tech giants have been seeking to build their exposure to the storage and analytics markets, which have been growing quickly as companies and governments use more space to hold the billions of emails, customer orders and other vital information needed to run their operations.

The acquisition of Netezza comes as IBM builds up its analytics offerings, spending over $12 billion on 23 analytics acquisitions over the past four years. The company made another acquisition just last week, buying OpenPages, a provider of software that helps companies more easily identify and manage risk as well as compliance activities across the enterprise through a single management system.

The analytics business has been posting strong growth, up 14% in the second quarter, and the purchase of companies like Netezza will allow IBM to maintain its momentum, Krishna said.